UDRNYSE: UDR

DENVER--(BUSINESS WIRE)--UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust, today announced that its Board of Directors declared a regular quarterly dividend on its common stock for the second quarter of 2024 in the amount of $0.425 per share, payable in cash on July 31, 2024 to UDR common stock shareholders of record as of July 10, 2024. The July 31, 2024 dividend will be the 207th consecutive quarterly dividend paid by the Company on its common stock. UDR also announce.

UDR's shares have underperformed due to high interest rates and cooling in the apartment rental market. Signs of the rental market finding a bottom make me incrementally more positive about UDR, though its relative value is not particularly compelling. UDR's focus on legacy markets and mid-tier quality properties means it may not be the primary beneficiary of peaking supply.

UDR's first quarter results show a rise in revenues from existing properties and growth from previous successful investments, but higher expenses have a negative impact.

Although the financial figures for UDR in the quarter ending March 2024 provide an overview of the company's performance, it may be beneficial to examine how certain key metrics stack up against analyst predictions and previous year's results.

UDR reported quarterly funds from operations (FFO) of $0.61 per share, which met the Zacks Consensus Estimate and was slightly higher than the FFO of $0.60 per share reported in the same quarter last year.

UDR's first quarter earnings probably benefited from diversifying their portfolio and implementing new technologies, despite challenges posed by high supply and increased interest rates.

UDR, Inc. will announce its first quarter 2024 financial results on April 30, 2024 after the market closes. A conference call will take place on May 1, 2024 at 12:00 p.m. Eastern Time for company officers to review results, discuss recent events, and answer questions from the public.

UDR Inc. is an undervalued Multifamily REIT with a strong balance sheet and quality locations, making it a good choice for income. UDR's 'hedged' portfolio of properties in Tier 1 and secondary markets has helped it navigate different market environments and outperform its Tier 1-focused peers. Despite a slowdown in tenant demand and rental increases, UDR has maintained strong occupancy and is expected to see a reversal next year, all while paying a respectable dividend yield.

UDR's geographically diverse portfolio, technological moves and healthy balance sheet position bode well for growth. However, elevated deliveries and high interest rates are headwinds.